Lloyd News

Detentions of Panama-flagged vessels by China that followed a Panamanian court ruling raise serious concerns about efforts to undermine rule of law in the Latin American country, U.S. Secretary of State Marco Rubio said on Thursday.The U.S. Federal Maritime Commission said last week that it was closely monitoring a surge in detentions of Panama-flagged vessels in China that appears tied to a Panama court ruling against Hong Kong-based port operator CK Hutchison."China's recent…

The Iran war has threatened Gulf ports and disrupted global trade through the Strait of Hormuz, a vital waterway through which roughly a fifth of the world's oil and liquefied natural gas normally passes.Iran's Revolutionary Guards have warned that ships passing through the narrow Strait will be targeted, after the U.S. and Israel launched strikes on the country on February 28.Below is a list of reported attacks:MARCH 1A crew member was killed on board Marshall Islands-flagged crude tanker MKD VYOM after it was hit by a projectile as the vessel sailed off the Omani coast…

Iran attacked a fully-loaded crude oil tanker at Dubai Port's anchorage on Monday, setting it ablaze and damaging its hull, Kuwait's state news agency reported, citing Kuwait Petroleum Corp, which warned of a possible oil spill.The apparent strike is just the latest in a string of assaults on merchant vessels by missiles or explosive air and sea drones in the Gulf and Strait of Hormuz since the U.S. and Israel attacked Iran on February 28.U.S. crude futures CLc1 rose more than…

Two Chinese container ships turned backed after trying to exit the Gulf via the Strait of Hormuz on Friday, ship-tracking data showed, despite assurances from Iran that Chinese vessels could pass.The operator, China's COSCO, had said in a March 25 client advisory that it had resumed bookings for general cargo containers for shipments from Asia to the United Arab Emirates, Saudi Arabia, Bahrain, Qatar, Kuwait and Iraq.The CSCL Indian Ocean and CSCL Arctic Ocean, both Hong Kong flagged, have been stuck in the Gulf since the U.S.-Israeli war with Iran began on Feb.

Hapag-Lloyd has published its annual report for the 2025 fiscal year, announcing that the group EBITDA stood at $3.6 billion (EUR 3.2 billion) and profits at $1.0 billion (EUR 0.9 billion).The result was at the upper end of the earnings forecast, but below the previous year, particularly owing to lower freight rates and higher operational costs.“2025 was a good year for Hapag-Lloyd with solid results. We have grown our volumes and outperformed the market. Our Gemini network delivered 90% schedule reliability and customer satisfaction reached another record high.

Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and boosting the continent's role as a bunkering hub.Carriers have been avoiding the Suez Canal and the Bab el-Mandeb Strait since late 2023, when Houthi attacks on Red Sea shipping began. U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz have reinforced the shift,…

Two tankers bound for India sailed through the Strait of Hormuz on Monday, as U.S. President Donald Trump threatened to attack Iran’s power plants unless Tehran drops threats that have effectively closed the Gulf.Gulf nations including Saudi Arabia and the United Arab Emirates have seen exports blocked since the war in Iran began on February 28 and Tehran launched attacks on ships and threatened any passing through the Gulf’s southern strait.The two India-flagged tankers were carrying liquefied petroleum gas (LPG) used mostly for cooking in India.

Ship-refuelling companies along Africa's coast are seeing a surge in business as more vessels divert around the Cape of Good Hope, with war in the Middle East reshaping global shipping routes and boosting the continent's role as a bunkering hub.Carriers have been avoiding the Suez Canal and the Bab el-Mandeb Strait since late 2023, when Houthi attacks on Red Sea shipping began. U.S. and Israeli strikes on Iran and the closure of the Strait of Hormuz have reinforced the shift,…

Accelleron and HD HMS (HD Hyundai Marine Solution) have conducted Engine Part Load Optimization (EPLO) projects on two vessels owned by leading container line Hapag-Lloyd. The 14,000TEU Basle Express and Essen Express had main engine tunings and turbocharger components modified for lower engine loads, with sea trials and subsequent operations showing fuel savings of more than 10g/kWh, equivalent to 5% of overall consumption in specific load ranges.Accelleron and HMS’s EPLO product ensures that vessels operating at engine speeds lower than their original design…

Lloyd’s Register (LR) has signed a new contract with long-standing partner Echo Marine Group to support the delivery of Western Australia’s first fully electric passenger ferries - marking a major milestone for sustainable public transport in Australia.The project, which is a part of the Perth Transport Authority’s (PTA) METRONET Swan River Ferry Service Expansion programme, will see the design and construction of five new battery-electric ferries for operation on Perth’s Swan River.

Following three consecutive years of revenue growth and expanding international demand for efficient offshore power delivery, Verlume is evolving its leadership structure to support its next phase of global expansion transitioning from technology commercialization to global scale-up.After founding Verlume and leading the company as CEO for 13 years, Richard Knox will transition into the role of Founder-CTO. In this position he will focus on customer engagement, innovation and technology strategy.

Shipping companies must improve how they collect, structure and use operational data if they are to remain competitive in an increasingly regulated and digital operating environment, according to new research from Lloyd’s Register (LR) and OneOcean. The report, Mastering maritime data for competitive advantage, launched March 18 at the Smart Maritime Network Conference in Athens, argues that while the maritime sector is generating more operational information than ever before, much of it remains fragmented, poorly structured or underused.

Iranian crude oil has continued to flow through the Strait of Hormuz at a near-normal pace even as Tehran-linked attacks on ships in the narrow waterway have decimated exports from other Gulf countries, a Reuters review of tanker tracking data showed.Iran has exported about 13.7 million barrels of crude oil since Israel and the U.S. launched attacks on the country on February 28, according to analysis from TankerTrackers.com, a maritime intelligence company that specializes in tracking the so-called shadow fleet…

MacGregor has launched its new Balanced Lashing System, a solution designed to solve the long-standing industry challenge of uneven load distribution in container ship lashings.On conventional container ships, lashings often share loads unevenly, with upper lashings bearing the majority of the stress while lower lashings operate at only about half of their safe capacity. The Balanced Lashing System changes this dynamic by using proven elastic elements, materials used successfully for decades in hatch cover bearing pads…

Explosive-laden Iranian boats appear to have attacked two fuel tankers in Iraqi waters, setting them ablaze and killing one crew member on Wednesday, after projectiles struck four vessels in Gulf waters, said port, maritime security and risk firms.The latest attacks on ships linked to the U.S. and Europe mark an escalation in the conflict between Iran and U.S.-Israeli forces, raising the number of ships struck in the region since fighting began to at least 16.Shipping in the Gulf and along the narrow Strait of Hormuz…

Container shipping group Maersk said on Wednesday it is redistributing fuel to ensure supplies for its vessels as the Iran war disrupts the flow and storage of maritime fuel in the Middle East.The Danish carrier, one of the world's biggest container shipping groups, has 10 ships stranded in the Gulf. U.S. and Israeli attacks on Iran have fueled hostilities that threaten one-fifth of the world's oil, which sails out of the region via the Strait of Hormuz - the globe's most important…

Two foreign tankers carrying Iraqi fuel oil were subjected to unidentified attacks inside territorial waters, causing them to catch fire, Iraq's director general of the General Company for Ports Farhan al-Fartousi told Reuters on Wednesday.Iraq evacuated the 25 crew members from the two vessels and fire is still ablaze on both ships, he added.This follows news that three vessels had been hit by unknown projectiles, with one of the strikes leading to a fire onboard a ship which forced most of its crew to evacuate it.Meanwhile…

The U.S. Navy has refused near-daily requests from the shipping industry for military escorts through the Strait of Hormuz since the start of the war on Iran, saying the risk of attacks is too high for now, according to sources familiar with the matter.The Navy's assessments spell continued disruption to Middle East oil exports and reflect a divergence from President Donald Trump’s statements that the U.S. is prepared to provide naval escorts whenever needed to restart regular…

A Greek‑operated oil tanker has sailed through the Strait of Hormuz, ship tracking data showed on Monday, in a sign that some commercial vessels are still attempting to navigate the vital passage despite the U.S.-Israel war with Iran.The Shenlong Suezmax, with a capacity of 1 million barrels, is carrying Saudi Arabian crude loaded at the port of Ras Tanura and is listing its destination as the Indian port of Mumbai, according to analysis from maritime data platforms Kpler, Lloyd’s List Intelligence and MarineTraffic.The tanker last recorded its position inside the strait on March 8…

The container shipping sector continued its gradual normalization in 2025, and ZIM Integrated Shipping Services’ latest financial results offer a clear snapshot of the industry’s transition away from the extraordinary profits generated during the pandemic-era freight surge.For the full year 2025, the Israeli liner carrier reported revenue of $6.9 billion, down from $8.4 billion in 2024 as freight rates softened across major trade lanes. Net income reached $481 million, a sharp decline from $2.15 billion the previous year…

As the conflict in the Gulf widens, maritime insurance premiums for war coverage are surging -- in some cases by more than 1000% -- dramatically driving up the cost of moving energy through a critical maritime corridor.The conflagration sparked by Saturday's Israeli-U.S. air strikes against Tehran has paralyzed traffic through the Strait of Hormuz, a major shipping chokepoint. Iran on Monday said it would fire on any ship trying to pass, and at least nine vessels have suffered…

More tankers came under attack in Gulf waters on Thursday as the U.S.–Iran war escalated, and Iranian drones entered Azerbaijan, threatening to spread the crisis to more oil producers in the region.A Bahamas-flagged crude oil tanker was targeted by an Iranian remote-controlled boat laden with explosives while anchored near Iraq's Khor al Zubair port, according to initial assessments. A second tanker at anchor off Kuwait was taking on water and spilling oil after a large explosion on its port side.Nine vessels have come under attack since the conflict broke out between the U.S.…

London's marine insurance market has widened the area in the Gulf it deems as high risk as the conflict in the Middle East escalates, according to an advisory issued on Tuesday.Guidance from the Joint War Committee, which comprises syndicate members from the Lloyd's Market Association and representatives from the London insurance company market, is watched closely and influences underwriters' considerations over insurance premiums.The JWC added waters around Bahrain, Djibouti…